Trump Fires Labor Statistics Commissioner After Weak Jobs Data Revision
ByAinvest
Friday, Aug 1, 2025 2:22 pm ET1min read
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The news of McEntarfer's firing comes amidst a backdrop of significant economic uncertainty. On Friday, stock markets slid as Trump announced new tariffs on dozens of trading partners. The US economy added just 73,000 jobs in July, while figures for May and June were revised lower [2]. The Dow Jones index dropped more than 1.2 percent, while the S&P 500 and Nasdaq also experienced significant declines. The dollar gave up earlier gains against key currencies, reflecting market concerns over the economic outlook.
The tariff uncertainty has overshadowed earnings reports from major tech titans such as Apple, Amazon, Google, Microsoft, and Meta. Apple reported double-digit quarterly revenue growth, while Amazon's profits jumped 35 percent, but the company's outlook for the next three months disappointed [2].
The firing of McEntarfer and the ongoing tariff disputes are likely to impact investor sentiment and economic confidence. The US economy is already grappling with inflation and supply chain disruptions, and the recent job data revisions and tariff announcements have added to the uncertainty.
References:
[1] https://cedarnews.net/newstasks/erika-mcentarfer/866979/
[2] https://finance.yahoo.com/news/stocks-slide-trumps-tariff-sweep-111722611.html
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US President Trump fired Labor Statistics Commissioner Dr. Erika McEntarfer, citing her alleged manipulation of jobs data to boost Kamala Harris's election chances. The Bureau of Labor Statistics previously overstated jobs growth in March 2024 by 818,000 and in August and September by 112,000. Trump claims to have directed his team to replace McEntarfer with a more competent candidate.
US President Donald Trump has ordered the firing of Labor Statistics Commissioner Erika McEntarfer, alleging that she manipulated jobs data to boost the election chances of Kamala Harris. The Bureau of Labor Statistics previously overstated jobs growth in March 2024 by 818,000 and in August and September by 112,000 [1]. Trump has directed his team to replace McEntarfer with a more competent candidate.The news of McEntarfer's firing comes amidst a backdrop of significant economic uncertainty. On Friday, stock markets slid as Trump announced new tariffs on dozens of trading partners. The US economy added just 73,000 jobs in July, while figures for May and June were revised lower [2]. The Dow Jones index dropped more than 1.2 percent, while the S&P 500 and Nasdaq also experienced significant declines. The dollar gave up earlier gains against key currencies, reflecting market concerns over the economic outlook.
The tariff uncertainty has overshadowed earnings reports from major tech titans such as Apple, Amazon, Google, Microsoft, and Meta. Apple reported double-digit quarterly revenue growth, while Amazon's profits jumped 35 percent, but the company's outlook for the next three months disappointed [2].
The firing of McEntarfer and the ongoing tariff disputes are likely to impact investor sentiment and economic confidence. The US economy is already grappling with inflation and supply chain disruptions, and the recent job data revisions and tariff announcements have added to the uncertainty.
References:
[1] https://cedarnews.net/newstasks/erika-mcentarfer/866979/
[2] https://finance.yahoo.com/news/stocks-slide-trumps-tariff-sweep-111722611.html
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